How He Sold His Company for $800M To PayPal

Hi,

Welcome to the #6 edition of Internet Money Stories 💰

Every Friday, I share the story of an entrepreneur who made it big on the internet.

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Bryan Johnson's journey in building Braintree is a remarkable story of entrepreneurship, innovation, and determination.

Here is the complete story of how he built Braintree:

Early Life and Education:

Bryan Johnson was born on March 22, 1977, in Provo, Utah, USA.

He completed his degree in Computer science from Brigham Young University, where he gained the skills and knowledge that would prove invaluable in his future endeavors.

After completing his education, Bryan embarked on his entrepreneurial journey.

He started his first company, a web-hosting business called "Internet Direct," which provided hosting services to small businesses.

Although this wasn’t a huge success, this venture was a valuable learning experience.

The Inception of Braintree:

Bryan Johnson founded Braintree in 2007.

At the time, online and mobile payments were still in their infancy, and there were many challenges associated with accepting payments through these channels.

He recognized the growing demand for a seamless and secure payment processing platform and saw an opportunity to make a significant impact in the space.

Key Innovations and Approach:

Braintree's early success can be attributed to several key innovations and approaches:

1. Developer-Centric Approach: Braintree focused on providing a developer-friendly platform, making it easy for businesses to integrate their payment processing services into websites and mobile apps. This developer-centric approach sets Braintree apart from competitors.

2. Seamless User Experience: Johnson and his team prioritized creating a seamless and user-friendly payment experience for both businesses and consumers. This approach included features like one-touch mobile payments and easy-to-implement APIs.

3. Safety and Security: In the world of online payments, security is paramount. Braintree invested heavily in ensuring that its platform was secure and compliant with industry standards, building trust among its clients.

Attraction of High-Profile Clients:

The company's commitment to providing top-notch payment processing services quickly attracted a wide range of clients, including startups, e-commerce platforms, and well-established tech companies.

Some of Braintree's notable clients included Uber, Airbnb, and Dropbox, further establishing its reputation as a trusted and innovative payment solutions provider.

Acquisition by PayPal:

In 2013, PayPal recognized the potential of Braintree's technology and the talent behind it and acquired the company for approximately $800 million.

This acquisition not only validated Bryan Johnson's vision but also provided Braintree with the resources and support of a global fintech leader.

In conversation with Shaan Puri and Sam Parr, on their podcast, Bryan revealed that he took home $300 million.

Legacy and Impact:

Braintree's success and Bryan Johnson's vision have had a lasting impact on the fintech industry.

The company's innovative approach to payment processing continues to influence how businesses handle online and mobile payments.

It serves as an inspiring example of how a startup can disrupt an industry and become a key player in a relatively short period.

OS Fund and Kernel:

In 2014, Bryan founded OS Fund, a venture capital firm that invests in early-stage science and technology companies.

In 2016, he founded Kernel, a company with a mission to develop advanced neurotechnology to improve human cognition and understanding of the brain.

He himself is very much curious about biohacking and reverse aging.

You can check out more here.

Thank you for reading.

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See you next Friday,

Armaan 🤝